Any way you look at it, the 18-page decision filed yesterday by United States District Judge Jed Rakoff in the Mets/Madoff case has to be viewed as a win, even a vindication of sorts, for Mets owners Fred Wilpon and Saul Katz.

The owners of the Mets thought they had found their white knight. After months of what appeared to be friendly negotiations with a potential minority owner, though, the cash-strapped organization is left still looking for help. That may not be good for fans of Jose Reyes.

Mets executives argued Thursday that a lawsuit claiming they should have heeded warning signs of a 25-year fraud carried out by jailed financier Bernie Madoff is “a fiction” and should be thrown out. “There were no warnings,” lawyers for Mets ownership said.

A court-appointed trustee says the owners of the Mets reaped profits from Bernard Madoff’s financial Ponzi scheme even as they went “shopping” for insurance to protect themselves in case the scam collapsed.

Mets co-owners Fred Wilpon and Saul Katz and their investment fund, Sterling Equities, allege trustee Irving Picard made “false allegations” and omitted evidence favorable to the owners in order to force a settlement.